Trends
Stonepeak to acquire Baltic Tower business, creating first independent regional tower company
An independent tower company is set to emerge in Lithuania and Latvia as Stonepeak acquires TeleTower from Bitė Group.
Headline
An independent tower company is set to emerge in Lithuania and Latvia as Stonepeak acquires TeleTower from Bitė Group.
Context
Infrastructure investment firm Stonepeak has agreed to acquire TeleTower , the towers business of Baltic telecommunications operator Bitė Group, in a deal that will create the first fully independent tower company in the Baltic states of Lithuania and Latvia. TeleTower, established in 2009 as part of Bitė, owns and operates more than 2,500 mobile tower and rooftop sites in strategic locations across both countries. Under the terms of the agreement, Stonepeak will take ownership of this portfolio and, alongside Bitė, enter into a long-term commercial partnership that includes the construction and deployment of over 1,200 additional sites. The deal is projected to close in the second quarter of 2026.
Evidence
Pending intelligence enrichment.
Analysis
Bitė itself is backed by Providence Equity Partners, a private equity firm specialising in media, communications, education and technology. Stonepeak is an alternative investment firm focused on infrastructure and real assets, managing around $80 billion in assets with a portfolio spanning digital infrastructure, energy, transport and logistics. The creation of an independent tower company echoes broader trends in European telecoms: mobile network operators increasingly sell or spin off tower infrastructure to focus on core services while partnering with specialised towercos. For instance, in August 2025 Tele2 announced plans to form a pan-Baltic tower joint venture covering Lithuania, Latvia and Estonia, valued at about €560 million. Also Read: Telia strengthens RAN capabilities with new Ericsson and Nokia contracts Also Read: Huawei pushes F5G-A vision to power Europe’s intelligent future Telecom tower businesses are critical infrastructure for mobile connectivity, hosting radio equipment for network operators and enabling services from basic voice calls to 5G data. The formation of the first independent towerco in the Baltics could alter how network infrastructure is financed, built and shared.
Key Points
- Stonepeak agrees to buy TeleTower, the Baltic tower arm of Bitė Group, in a deal to create the region’s first independent tower operator.
- The move includes a long-term commercial agreement to roll out more than 1,200 additional sites across Lithuania and Latvia, raising questions about competition and rural connectivity.
Actions
Pending intelligence enrichment.
